Hard work, innovation, strong motivation, discipline, dedication, open to new ideas, having a sense of responsibility, loyalty, honest and friendly services are a collection of slogans that are being introduced in Bank Sulut. All of these traits are summarized in a brief sentence from President Director Jeffry Wurangian, which is, “CARE BUSINESS, CARE PEOPLE.” As a result, Bank Sulut has continued to grow and develop from year to year its financial and physical performances. For instance, Bank Sulut’s branches spread from North Sulawesi and Gorontalo and are currently expanding its wings in the state capitals of Jakarta, Surabaya, and Malang, East Java, the 2nd largest city after Surabaya. Growing healthy and supporting local economic growth are the main targets to be achieved by implementing the appropriate strategy, especially when competing with other major banks in an open market within an era of free and healthy competition. Preparations for changes became a basis for a fundamental foundation of the strength of Bank Sulut. Changes have begun since the third quarter of 2009. For example, there was a change in the total model organizational structures in accordance with market demand of foreign exchange services by focusing on productive loans, recruitment of competent human resources including education, for old and new employees; to improve services and use of modern IT. Infrastructure will continue to improve, so will improvements and introductions of new products, and improvements in cooperation with government and private institutions such as the Electronic Civil Service Card (KPE), and collaborating with the National Civil Service Agency Department and the local government. For example, there was a procurement of the Mobile Car Bank to serve the community close. In strengthening the bank’s capital, much various efforts have been made. Ranging from socialization within the shareholders, where this is an importance in additional capital contribution, all the way to the issuance of sub-ordinated loan throught the Indonesian Stock Exchange in March 2010. The success brought about additional capital funds amounting to Rp 10 billion. A total of Rp 400 billion was obtained from society in the fourth issuance of bonds. Bank Sulut was the first of 26 regional banks in all of Indonesia to successfully make an initial offer of sub-ordinated bonds. In this November 2010, there will be planned a ratification by the shareholders of Bank Sulut to discuss a meeting to possibly offer shares through the Indonesian Stock Exchange, which is commonly known as IPO-going public, as well as shareholders discussing name changes of Bank Sulut. One possibility is “BANK BUNAKEN”, like when Bank Jabar-Banten turned into Bank BJB, and when the regional bank, Bank of West Sumatera became Bank Nagari. But the title of Regional Development Bank of North Sulawesi remains in the Articles of Association. If everything goes accordingly, it is expected that the IPO, within the first to second quarter of the year, in 2011 there will be listed Bank Sulut in the Indonesian Stock Exchange. The estimated additional capital from the IPO proceeds wil range from USD 200 billion to USD 300 billion with the funds ready to support the growth of future operations of Bank Sulut, especially in achieving the target set by Bank Indonesia through, “Regional Development Bank Champion” in 2015. The development of Bank Sulut in statistics from 2007 up to November 2010 looks to continue to grow as follows: Total assets of Rp 2.2 trillion (2007), Rp 2.9 trillion (2008), Rp 3.3 Trillion (2009), and 4.1 Trillion (Nov. 2010). This outcome reveals increasing public confidence because the funds placed in the form of checking accounts, savings, and deposits continue to increase, as follows: Deposits (Third Party Fund Community) Rp 1.5 Trillion (2007), Rp 1.8 Trillion (2008), Rp 2.6 Trillion (2009) and Rp 3 Trillion more in Nov of 2010. The total loans given as of November 2010 is approximately Rp 2.8 Trillion, where previous earning credits are still below 10% and has reached about 12%. The loans for small business reached over 80%, about 20 billion from the 25 billion target that was established by the Ministry of Cooperatives. By the end of December, the target is projected to be achieved. Beginning in the start of 2011, all existing branches will serve the credit management. Credit consumption will be withdrawn and will be served by the central office. Therefor, the branches will not serve the credit consumption. With that said, all the branch managers will only serve credit production, IT systems, and programs. Human resources are ready to support this policy and strategy. The fixed loan interest rates were reduced, ranging from 19-20% a few years before.  Currently, lending rates continue to be reduced from 9.75% to 12.50%. The diminishment of revenues has been the consequence. But management established a strategy of equilibrium with production cost, and results were looking for other fee based income and looking for other business opportunities such as opening a network in Jakarta and Surabaya. Of the additional new branches, in about two month of operation, the new branch of Bank Sulutin Jakarta and Surabya have raked in pure public funds of about $ 300 billion, a figure previously unthinkable and impossible to be accomplished by the branch in North Sulawesu and even Gorantalo which still relies on funding from local governments. The result of this hard work can be evident with the continued growth in profits obtained by Bank Sulut before tax: Rp 54 billion (2007), Rp 71 billion (2009), and Rp 121 billion (Nov 2010), a significant contribution for the local government. Towards the end of 2010, Bank Sulut will take another step further: Bank Indonesia Malang has issued a permit for the office opening of Bank Sulut’s branch in Malang on November 4, 2010, under the parent branch of Surabaya after receiving a letter of recommendation from the Bank Indonesia leader of Manado. This symbolizes success and hard work of the people of North Sulawesi and Gorantalo. At the end of 2010, the target is reached. Bank Sulut has never and will never be silent, even though prudential principles continue to be examined, but growth is the target to be achieved. There are yet still to be many surprises in 2011, definitely better than in 2010. Especially in June of 2011 for it is the 50th anniversary of Bank Sulut. 2011 is the golden year, the year of the rise of Bank Sulut, ready to support national and local government programs that are pro-job, pro-poor, pro-growth, and pro-entrepreneurship. Among other things, the goal is to realize Manado, North Sulawesi into the Asian-Pacific trade gateway. ***